THE MANAGEMENT OF INNOVATION AND INVESTMENT ABILITY OF THE ENTERPRISE
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 83)Publication Date: 2024-03-31
Authors : Piatnochka Borys; Dudok Kateryna; Tsisaryk Volodymyr; Torbych Bohdan;
Page : 95-100
Keywords : enterprise; innovations; investments; management decisions; business processes; business environment; enterprise resources; business risks; business strategy; enterprise development;
Abstract
The purpose of the article is to reveal the concept and explore the mechanism and features of management of innovation and investment ability of the enterprise in modern conditions. It is noted that innovation and investment are the basis for the development of any enterprise in a modern competitive business environment. Managing innovation and investment capacity is becoming a key aspect of strategic management aimed at ensuring sustainable growth and competitiveness of the enterprise. It has been established that the innovation and investment ability of an enterprise lies in the ability to introduce innovative ideas, technologies and processes to increase efficiency and competitiveness. This ability includes not only financial aspects, but also cultural, organizational and technological changes aimed at creating and exploiting new opportunities. It is also important to consider cooperation with other organizations, institutions and scientific institutions to exchange knowledge and technology. The conclusion is formulated that the mechanism for managing innovation and investment ability includes five main stages: analysis of needs and opportunities, strategy development, mobilization of resources, introduction of innovations and evaluation of results. This approach allows for a systematic approach to enterprise development. However, the implementation of such a mechanism may face various difficulties, such as insufficient data availability or the risks of unsuccessful innovation projects. Successful implementation requires attention to risk management, flexibility to adapt to change and the involvement of qualified specialists. In the future, it is advisable to study the impact of innovation on financial performance, the strategy for financing innovative projects, assessing the risks of innovative investments, study the relationship between innovation and competitiveness, the role of knowledge management, the internal and external environment of innovative development, as well as methods for stimulating the innovative activity of personnel. These areas of research are aimed at expanding the understanding and practical use of management strategies to increase the innovative initiative and competitiveness of the enterprise.
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